Further announcement regarding the proposed disposal of the starch business and further cautionary announcement Tongaat Hulett Limited (Incorporated in the Republic of South Africa) Registration number 1892/000610/06 JSE Share Code: TON ISIN: ZAE000096541 ("Tongaat" or the "Company") Further announcement regarding the proposed disposal of the starch business and further cautionary announcement Shareholders (“Tongaat Shareholders”) are referred to the: - firm intention announcement released by Tongaat on 28 February 2020 wherein the Company advised Tongaat Shareholders that it had entered into an agreement to dispose of its starch business as a going concern to KLL Group Proprietary Limited. (“KLL Group”), a wholly-owned subsidiary of Barloworld Limited (“Disposal”); and - subsequent announcements of 15 and 30 April, 7 and 12 May and 4 and 5 June 2020. Fulfilment of suspensive condition relating to Competition Tribunal approval Shareholders are advised that South African Competition Tribunal has approved the Disposal without conditions. The Disposal has already been approved without conditions by The Common market for Eastern and Southern Africa competition authorities. The Disposal remains subject to the fulfilment of certain other conditions precedent, including, inter alia, lender consents and approval of the competition authorities in Indonesia. Suspensive condition relating to alleged material adverse change (“MAC”) THL Shareholders are referred to the announcements dated 12 May 2020 and 4 June 2020 regarding the notification from KLL Group advising the Company that KLL Group had formed a view that a MAC has occurred. THL remains firmly of the view that a MAC has not occurred. The matter is being referred to an independent third party for determination. The Company remains fully committed to the fulfilment of the suspensive conditions and the implementation of the Disposal. Further cautionary announcement Having regard to the MAC dispute referred to in this announcement, shareholders are advised to continue to exercise caution when dealing in the Company's securities. Responsibility statement The board of directors of the Company, individually and collectively, accepts full responsibility for the accuracy of the information contained in this announcement. In addition, the board of directors of the Company certifies that to the best of its knowledge and belief, the information contained in this announcement solely pertaining to the Company is true and, where appropriate, does not omit anything that is likely to affect the importance of the information contained herein, and that all reasonable enquiries to ascertain such information has been made. Tongaat 6 July 2020 Financial Adviser and Transaction Sponsor to Tongaat PricewaterhouseCoopers Corporate Finance Proprietary Limited Legal Adviser to Tongaat Bowmans Competition Law Adviser to Tongaat Webber Wentzel Date: 06-07-2020 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.